BNP Paribas Financial Markets Acquires 103,353 Shares of Plains GP Holdings, L.P. (NYSE:PAGP)

BNP Paribas Financial Markets raised its stake in shares of Plains GP Holdings, L.P. (NYSE:PAGP) by 8.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,313,974 shares of the pipeline company’s stock after buying an additional 103,353 shares during the period. BNP Paribas Financial Markets’ holdings in Plains GP were worth $24,309,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PAGP. ORG Partners LLC acquired a new stake in Plains GP in the 2nd quarter worth approximately $44,000. CWM LLC boosted its holdings in shares of Plains GP by 61.0% during the 2nd quarter. CWM LLC now owns 3,028 shares of the pipeline company’s stock worth $57,000 after buying an additional 1,147 shares during the period. Hara Capital LLC acquired a new position in Plains GP in the 3rd quarter valued at $57,000. Unique Wealth Strategies LLC bought a new position in Plains GP in the 2nd quarter worth $70,000. Finally, Eastern Bank acquired a new position in Plains GP during the 3rd quarter worth $76,000. Institutional investors own 88.30% of the company’s stock.

Plains GP Trading Up 2.8 %

Shares of Plains GP stock opened at $20.02 on Friday. Plains GP Holdings, L.P. has a 52-week low of $14.93 and a 52-week high of $20.10. The firm has a market capitalization of $3.95 billion, a PE ratio of 23.55 and a beta of 1.54. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The company’s fifty day moving average price is $18.51 and its two-hundred day moving average price is $18.61.

Plains GP Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a $0.3175 dividend. This represents a $1.27 annualized dividend and a yield of 6.34%. The ex-dividend date of this dividend was Thursday, October 31st. Plains GP’s dividend payout ratio (DPR) is presently 149.41%.

Analyst Ratings Changes

Several equities analysts recently weighed in on PAGP shares. Wolfe Research raised Plains GP to a “hold” rating in a research report on Wednesday, September 18th. Morgan Stanley cut Plains GP from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Finally, StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $19.88.

Plains GP Company Profile

Plains GP Holdings, L.P., through its subsidiary, Plains All American Pipeline, L.P., owns and operates midstream infrastructure systems in the United States and Canada. It operates in two segments, Crude Oil and Natural Gas Liquids (NGLs). The company engages in the gathering and transporting crude oil and NGLs using pipelines, gathering systems, and trucks.